Trust Co. of Vermont Grows Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Trust Co. of Vermont lifted its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,080 shares of the real estate investment trust’s stock after purchasing an additional 114 shares during the quarter. Trust Co. of Vermont’s holdings in Simon Property Group were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPG. Clearstead Trust LLC bought a new stake in Simon Property Group in the first quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Simon Property Group in the 2nd quarter worth about $25,000. EntryPoint Capital LLC purchased a new position in shares of Simon Property Group in the 1st quarter worth about $26,000. Wetzel Investment Advisors Inc. bought a new position in Simon Property Group in the 2nd quarter worth about $27,000. Finally, RFP Financial Group LLC grew its position in Simon Property Group by 727.3% during the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Insider Activity

In related news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $167.30 per share, with a total value of $61,901.00. Following the acquisition, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.60% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of several recent analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Truist Financial lifted their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Mizuho upped their price target on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Finally, Scotiabank lifted their price objective on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $162.78.

Simon Property Group Stock Up 1.5 %

Simon Property Group stock opened at $176.90 on Friday. Simon Property Group, Inc. has a one year low of $104.05 and a one year high of $177.08. The stock has a fifty day moving average of $165.93 and a 200 day moving average of $154.59. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market cap of $57.68 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 9.41 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate of $2.93 by ($1.42). The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. Simon Property Group’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.88 EPS. As a group, sell-side analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend was Monday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is currently 104.19%.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.